Saiyed Atiq Raza Sells 73,610 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 73,610 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $17.14, for a total transaction of $1,261,675.40. Following the transaction, the director owned 511,483 shares of the company’s stock, valued at approximately $8,766,818.62. The trade was a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Saiyed Atiq Raza also recently made the following trade(s):

• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The stock was sold at an average price of $17.01, for a total transaction of $200,071.62.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The stock was sold at an average price of $17.00, for a total transaction of $83,419.00.

Arteris Stock Performance

Shares of AIP opened at $16.99 on Friday. Arteris, Inc. has a 52 week low of $5.46 and a 52 week high of $19.85. The firm has a market capitalization of $772.54 million, a P/E ratio of -20.72 and a beta of 1.47. The company has a 50-day simple moving average of $15.88 and a 200-day simple moving average of $13.67.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to the consensus estimate of $18.55 million. As a group, equities analysts forecast that Arteris, Inc. will post -0.73 earnings per share for the current year.

Institutional Trading of Arteris

Several hedge funds have recently modified their holdings of the company. Worth Venture Partners LLC acquired a new stake in Arteris in the 2nd quarter valued at about $451,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Arteris during the second quarter worth approximately $254,000. Franklin Resources Inc. grew its stake in shares of Arteris by 9.6% during the second quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock valued at $15,602,000 after purchasing an additional 142,936 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Arteris by 143.8% in the second quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock valued at $1,153,000 after purchasing an additional 71,340 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Arteris in the 2nd quarter worth approximately $405,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Northland Securities set a $24.00 target price on shares of Arteris in a research report on Friday, February 13th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $20.00 target price on shares of Arteris in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.17.

Arteris Company Profile

Arteris, Inc is a fabless semiconductor intellectual property (IP) company specializing in on-chip interconnect solutions and system IP for advanced integrated circuits. The company’s core products include its FlexNoC network-on-chip (NoC) fabrics, Ncore cache coherent interconnect IP, and CodaCache memory subsystem IP. These technologies enable semiconductor and systems companies to design scalable, energy-efficient chips for applications ranging from automotive and artificial intelligence (AI) to 5G communications and high-performance computing.

Founded in 2003 and headquartered in Santa Clara, California, Arteris serves a global customer base across North America, Europe, and Asia.